Employment Terms Defined/ Importance of Employee Training and Development

What Is an Employment Terms?

 Terms of employment are the benefits and responsibilities that an employee agrees to when they accept a job.
 Terms may include things like salary, benefits, retirement, and company policies.
 Terms of employment can specify touchy issues such as dispute resolution, nondisclosure or  non-compete
agreements, grounds for termination, and the possibility of a notice of termination.

Reference: https://www.investopedia.com/terms/t/terms-of-employment.asp

What is Training and Development?

 Training and development refer to educational activities within a company created to enhance the knowledge
and skills of employees while providing information and instruction on how to better perform specific tasks.
What is Difference between Training and Development?

Reference: https://www.talentlyft.com/en/resources/what-is-training-and-development

Importance of Employee Training and Development

1. Higher Capacity for the Adoption of New Methods and Technologies. The advantages of employee training and
development for an organization can be tremendous, especially when it comes to adopting new technologies,
processes, and models. However, in today's ever-changing business landscape, one-off employee training is not
enough. To reap the full benefits of employee training and development, organizations need to  upskill the
workforce consistently. This enables employees to quickly adopt the latest technological developments, which
they can use to speed up innovations in processes and products.
2. Employee Training and Development Helps Keep Pace With Changes in the Industry. The importance of
employee training is paramount, particularly when you are trying to keep up with industry changes, rules, and
regulations. Having up-to-date knowledge about your industry will help you stay ahead of the competition.
3. Employee Training and Development Increase Job Satisfaction and Morale. There are many advantages of
training and development for an organization, but the benefits of employee training and development also
impact employee career growth as well. When employees sense that their employer is helping them to improve
their skills and knowledge base, they feel motivated, and this increases their job satisfaction and morale.
4. Lower Employee Turnover Is One of the Main Benefits of Training to Employers. Getting an opportunity to learn
new skills and gain knowledge is why training is important for employees. Still, for an organization, employee
training is worth the investment because it translates into decreased employee turnover. Continuous employee
training and development, experts agree, is the key to retaining skilled employees.
5. The Ability to Attract High-Calibre Talent Is One of the Prime Advantages of Training and Development for an
Organization. An organization that prioritizes employee training and development sets a benchmark, which
draws in top-level talent. According to various surveys, job seekers consider employee training and
development as a major benefit. From a company's viewpoint, retaining a skilled workforce and attracting quality
talent are the two main advantages of employee training and development.  
6. Employee Training and Development Helps Maintain Skill and Knowledge. Every skill requires regular practice.
Otherwise, mastery over it is lost. Periodic employee training programs serve as refresher courses for your
employees, which not only helps them sharpen the skills they have already learned, but it also enables your
organization to maintain a high level of skill and knowledge.
7. Employee Training Gives You a Much-needed Competitive Edge. In the present-day environment, innovations,
industry trends, and technologies are always changing. In this scenario, to stay ahead of your field, you must
recognize the importance of training your employees. When you have robust employee training and
development programs in place, your employees will better adapt to the changes, giving your organization the
much-needed competitive advantage. 
8. Employee Training and Development Create Scope for Internal Promotions. The advantages of training and
development for an organization are varied. One of the major benefits of training to employers is that employee
training helps fill internal promotion positions. This is a cost-effective solution, as hiring new talent is an
expensive affair. Plus, your existing employees are well acquainted with the organization's operations and work
culture, so they can start working instantly.
Date Published: November 24, 2022: Reference: https://www.simplilearn.com/benefits-of-employee-training-and-
development-article